THQ to Bring Barbie(R), Hot Wheels(R), Fisher-Price(R) and More to Video Game Consoles for Kids and Families
AGOURA HILLS, Calif., Jan 05, 2011 (BUSINESS WIRE) -- THQ Inc. (NASDAQ: THQI) will open the vast toy chest of Mattel, Inc. (NASDAQ: MAT), to develop and publish video games under a new, multi-year alliance that both companies announced today.
Extending deep into Mattel's broad portfolio of popular brands, the agreement with Mattel builds on THQ's strength in kids and family games. Partnering with Mattel, the global leader with the most recognized brands in the toy industry, THQ plans to produce and distribute video games based on Barbie(R), Hot Wheels(R) and Fisher-Price(R). The companies will also collaborate to expand the video game and interactive potential of newer properties such as Monster High(TM) and longtime Mattel favorites such as Rock 'Em Sock 'Em(R) Robots, Masters of the Universe(R), Polly Pocket(TM) and others.
The multi-platform deal will focus on THQ designing, developing and marketing games for consoles and handheld systems; personal computers; mobile devices and social networks; and popular online gaming portals such as Xbox Live(R) Arcade, Playstation(R) Network and Nintendo WiiWareTM Network.
THQ also plans to bring Mattel's brands to its popular uDraw GameTablet(TM), an innovative new accessory launched just prior to the holidays that quickly became one of the season's most sought-after gifts. Pictionary(TM), one of the first titles for the uDraw GameTablet, and based on the popular Mattel game, showcases the technological and creative potential of the new relationship - and the opportunities to combine world-renowned brands with new concepts in digital entertainment.
"We are excited to work hand-in-hand with the world's No. 1 toy company to bring a new level of entertainment to its already incredibly popular brands," said Martin Good, THQ's Executive Vice President of Kids, Family and Casual Games. "As we have shown with the combination of uDrawTM and Pictionary, there is enormous potential for the strategic relationship between THQ and Mattel. Through video games, we can build on some of the most famous and classic toy properties in the world, as well as unlock the entertainment potential of the newest creations from Mattel."
"Mattel is synonymous with play and as such we continually seek creative opportunities to generate new ways to play with our brands," said Chuck Scothon, General Manager of the Mattel's Digital Network. "Partnering with THQ extends the connection consumers have with our brands to a deeper multi-platform experience with video games for kids and family audiences."
THQ and El Segundo, Calif.-based Mattel are already in the development stage on multiple games, the first of which are scheduled for release next holiday season. Details of these titles will be formally announced in the coming months.
THQ Inc. (NASDAQ: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers and wireless devices. Headquartered in Los Angeles County, California, THQ sells product through its global network of offices located throughout North America, Europe and Asia Pacific. More information about THQ and its products may be found at www.thq.com. THQ, uDraw, uDraw GameTablet and their respective logos are trademarks and/or registered trademarks of THQ Inc. All other trademarks are property of their respective owners.
Mattel, Inc., (NASDAQ: MAT) (www.mattel.com) is the worldwide leader in the design, manufacture and marketing of toys and family products. The Mattel family is comprised of such best-selling brands as Barbie systems, personal computers and wireless devices. Headquartered in El Segundo, California, Mattel was named as one of FORTUNE Magazine's "100 Best Companies to Work For" for the third year in a row, and was ranked among Corporate Responsibility Magazine's "100 Best Corporate Citizens." Mattel also is recognized among the "World's Most Ethical Companies." With worldwide headquarters in El Segundo, Calif., Mattel employs approximately 27,000 people in 43 countries and territories and sells products in more than 150 nations. At Mattel, we are "Creating the Future of Play."
© 2010 Mattel, Inc. All rights Reserved.
Caution Concerning Forward-Looking Statements about THQ
The statements contained in this press release that are not historical facts may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the business of THQ Inc. and its subsidiaries (collectively referred to as "THQ"), including, but not limited to, expectations and projections for games based on Mattel properties and are based upon management's current beliefs and certain assumptions made by management. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, business, competitive, economic, legal, political and technological factors affecting our industry, operations, markets, products or pricing. Readers should carefully review the risk factors and the information that could materially affect THQ's financial results, described in other documents that THQ files from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q and Annual Report on Form 10-K for the fiscal period ended March 31, 2010, and particularly the discussion of risk factors set forth therein. Unless otherwise required by law, THQ disclaims any obligation to update its view on any such risks or uncertainties or to revise or publicly release the results of any revision to these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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SOURCE: THQ Inc.
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